Common use of Limitations on Trustees' Powers Clause in Contracts

Limitations on Trustees' Powers. The Trustees are not permitted: (a) to purchase or hold any securities or instruments except for the Shares, the Contracts, the Treasury Securities, the Temporary Investments contemplated by Section 3.5 hereof and, in the event of a Reorganization Event, Marketable Securities; (b) to dispose of the Contracts prior to the Exchange Date; (c) to issue any securities or instruments except for the Securities, or to issue any Securities other than the Securities sold to the Sponsor and the Securities to be sold pursuant to the Underwriting Agreement and until such Securities have been so purchased and paid for in full; (d) to make short sales or purchases on margin; (e) to write put or call options; (f) to borrow money; (g) to underwrite securities; (h) to purchase or sell real estate, commodities or commodities contracts; (i) to purchase restricted securities; (j) to make loans; or (k) to take any action, or direct or permit the Administrator, the Paying Agent or the Custodian to take any action, that would vary the investment of the Holders within the meaning of Treasury Regulation Section 301.7701-4(c), or otherwise take any action or direct or permit any action to be taken that would or could cause the Trust not to be a "grantor trust" under the Code.

Limitations on Trustees' Powers. The Trustees are not permitted: (a) to purchase or hold any securities or instruments except for the Shares, the ContractsContract, the Treasury Securities, the Temporary Investments contemplated by Section 3.5 hereof and, in the event of a Reorganization Event, Marketable Securities; (b) to dispose of the Contracts Contract prior to the Exchange Date;] (c) to issue any securities or instruments except for the SecuritiesTIMES, or to issue any Securities TIMES other than the Securities TIMES sold to the Sponsor and the Securities TIMES to be sold pursuant to the Underwriting Agreement and until such Securities TIMES have been so purchased and paid for in full; (d) to make short sales or purchases on margin; (e) to write put or call options; (f) to borrow money; (g) to underwrite securities; (h) to purchase or sell real estate, commodities or commodities contracts; (i) to purchase restricted securities; (j) to make loans; or (k) to take any action, or direct or permit the Administrator, the Paying Agent or the Custodian to take any action, that would vary the investment of the Holders within the meaning of Treasury Regulation Section 301.7701-4(c), or otherwise take any action or direct or permit any action to be taken that would or could cause the Trust not to be a "grantor trust" under the Code.

Limitations on Trustees' Powers. The Trustees are not permitted: (a) to purchase or hold any securities or instruments except for the Shares, the Contracts, the Treasury Securities, the Temporary Investments contemplated contem plated by Section 3.5 hereof and, in the event of a Reorganization Event, Marketable Securities; (b) to dispose of the Contracts prior to the Exchange Date; (c) to issue any securities or instruments except for the Securities, or to issue any Securities other than the Securities sold to the Sponsor and the Securities Securi ties to be sold pursuant to the Underwriting Agreement and until such Securities have been so purchased and paid for in full; (d) to make short sales or purchases on margin; (e) to write put or call options; (f) to borrow money; (g) to underwrite securities; (h) to purchase or sell real estate, commodities or commodities contracts; (i) to purchase restricted securities; (j) to make loans; or (k) to take any action, or direct or permit the Administrator, the Paying Agent or the Custodian to take any action, that would vary the investment of the Holders within the meaning of Treasury Regulation Section 301.7701-4(c), or otherwise take any action or direct or permit any action to be taken that would or could cause the Trust not to be a "grantor trust" under the Code.